Tories' 'batty' stamp duty plans explained | Property agent Henry Pryor
ฝัง
- เผยแพร่เมื่อ 6 มิ.ย. 2024
- “Frankly you might as well stay in bed.”
First time buyers will be considering “sitting on their hands” after the Conservatives plan the “batty idea” to raise the stamp duty threshold to £300,000, explains property agent Henry Pryor.
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4 min in and they still haven’t explained clearly what is being proposed
Exactly
I think that is what they are complaining about, the Tories have said they are going to fiddle with stamp duty in October, without saying what they are going to do, hence anybody thinking of buying a property is going to wait and see in the hope of paying less stamp duty. So the market stalls.
Check the description, they're planning to raise the threshold for paying stamp duty to £300,000.
I thought I was going mad.
The Tories showing how to lead - NOT!
When the times calling the torys battly its bad
Tax, tax, tax what isn't taxed these days! and the country is still nearly £3 trillion plus in debt due to successive governments wasting hard earned tax payers money, whilst they fatten themselves up at the trough of public money.
France owes Treasury a trillion. Why not call that sovereign debt in or sell it?
CORRECT..... The foundation...... PROBLEM IS BASED IN....... WESTMINSTER CORRUPTED POLITICS..... FIX THIS AND THE SOVEREIGN NATION OF THE UNITED KINGDOM...... BECOMES SUPER SUCCESSFUL..... FOR..... ALL.... LEGAL UK CITIZENS.
When Labour left power in 2010 the national debt stood at £600 billion after the bank bailouts. The national debt is now 2.5 trillion! No two sides to this argument. It was 1.9 trillion before covid.
@@Martin36544 When you look to history, a pending economic.... Collapse....... Lays just behind major..... Military conflicts.... A way to.... Reboot..... Collapsing.... So called... World economics..... WAR destruction huge military EXPENDITURE, then after what ever conflict ends...... REBUILDING.... EXPENDITURE *. THE..... UNITED STATES OF AMERICA...... BECAME A WORLD POWER AFTERC5 YEARS OF...... CONFLICTS..... BEFORE..... THE 2ND WORLD WAR...... .... HUGE ECONOMIC........ .. DEPRESSION *
so...why did you vote for them?
In 2020 Sunak played with the Stamp Duty to stimulate the Housing market it encouraged people to get Mortgages that they couldn’t really afford and when Interest Rates went up they lost their Houses it was a disaster last time why is he trying it again ?
Other than looking at getting people to pay capital gains tax on their primary residence, why don't we look at getting the wealthiest in the land to pay an appropriate amount of tax? We could start by maybe getting the King to pay inheritance tax and the appropriate capital gains on everything he owns
And what would that do for you?
@@ty194 If those who could pay more actually paid it then either our taxes could be cut or public services could be improved
@@stevec6427 Neither of those things would happen.
It would be very much easier, and a relief for taxpayers, if parliament simply called in or sold the French loan. Not a penny paid on sovereign debt since 1931 and a trillion owing.
CGT when selling your primary residence is a barmy idea in reality.
Homeowners would be entitled to deduct a whole load of expenses they have incurred whilst owning the property specifically improvements but also repairs, redecorating, leasehold payments, house insurance premiums, legal fees, conveyancing costs etc. This will necessarily mean keeping detailed records of such expenses for the whole time the property is owned which might stretch back decades.
Any profit would reasonably need to be index linked to some extent so the gross margin on sale would be diminished considerably. The expenses would also ned to be index linked based on the year in which they were incurred.
So you would be hard pressed to make such a tax retrospective as you would need to enable people to understand the record keeping requirements going forward. There is a CGT threshold to cover also so the amount that would be received by the Exchequer would be vanishingly small in the first few years and less than you might envisage in the long run.
Far more trouble than it is worth.
the interview might make more sense if you tell use what changes you are talking about.
I thought I was the only one who wasn't getting it.
It's like we were joining in a conversation which was going on.
If you are a first time buyer and can afford to buy a £300,000 house then you are doing ok and you should be taxed, you need no help. This is good. Tax breaks for first time buyers should be axed totally
Autumn statement is November- no way this shower remains in power that long
Of course they can. It's up to them when the election is called, so long as they call it before January.
The UK needs this extra revenue so that they can send the money to Ukraine and Israel.
Still don't know what these rules will be..
So stamp duty is a tax own a car road tax or motorbike , a home then council tax also. But vat on petrol diesel. The smoking ban where is the money going to come from with the lose of the tax on ciggies.
They should up the stamp duty on second properties and so effectively stop (especially in London and SE Eng) new buy to lets coming into play.
It's only the forewarning of lowering the Stamp Duty that causes a problem. If it was decided upon and implemented immediately it would not cause a delay on house sales and purchases. Simples!
This is pointless, if stamp duty is in force then house sellers drop their price by a few grand, if not they raise their price by a few grand, zero benefit to anyone
Very sensible comments from this gentleman
So basically - he's against raising the threshold for stamp duty because it will increase house prices and since he buys property then it will cost him more. Oh dear - what a shame.
You do realize he is buying AND selling. The real problem here is for those who want to get into the housing market.
Youve totally glossed over the point in hand ……vague AF
Somebody tell him that haircut is a mess especially for a middle aged portly chap.
They keep tinkering with stamp duty which artificially increases demand and then people grumble about rising prices. Ludicrous. People need long term certainty without gimmicks.
Are they expecting us to waste sympathy on estate agents? It’s similar to 2009 when they wanted sympathy when the market crashed but we had to look at their slimy, smirking grins when they were making millions in the 15 years prior.
The Tories are wishing for a return to the good old pre covid days of 2020 when base rate was zero, inflation was really low and house prices were soaring (due to stamp duty cut).
Unless the FTB is hoping to buy a property more than £425k, it’s likely they’ll be more eager to buy ASAP before this change comes in place and the price of the same/similar properties increases (because there’s no stamp duty to pay - we saw something similar with the stamp duty holiday the tories gave themselves to buy up our assets during an international crisis, with minimal cost).
That's why if any changes are made it should be implemented quickly and permenant. No artificial deadlines which cause bubbles.
Interesting guy.
WEF batty ideas
Wait the Tories are suggesting a policy that benefits existing home owners over everyone else? Someone should alert the presses, I think I've figured out their scheme!
House prices are going to go up, they will never come down. Especially when we just aren't building any new homes in any real substantial numbers
Do they even know how to spell homophobia?
Half a million immigrants arriving into the UK in this last year under the Tories. Guess what this means for house prices??😮😮
When even the Times are calling them out, you know the gig is up... Get the Tories out
Wahey..more house price inflation ahead - just vote Tory!😊
Anybody still flying the Ukraine flag these days ?
How much are we still sending to Ukraine when we have such disasters at home and more looming
Government hammers another nail in housing market coffin !